Welcome to this month’s edition! The NAR (National Association of Realtor) just released a statewide housing survey for the state of New Hampshire. Many of the results show about 50/50 split on opinions which either means opinions are indeed split, or people haven’t given the topic much thought, but there are a few answers that have dramatically shifted since the last survey four years ago.
Also in December, despite rising interest rates again, house prices rose in all 50 of the most populous metros for the first time since May of 2022. Indicating that home buyers may be accepting rates as the new normal and that inventory just can't keep up with demand. Sherwood has a great graphic of the national home prices here.
SO WHAT DO NEW HAMPSHIRE RESIDENTS THINK?
Personally I think the most jarring response is the reduction in people’s satisfaction about their current housing situation:
Although not a comment on real estate specifically, the majority belief in 2019 was that New Hampshire was on the right track, and now it is not.
Although it's likely not the entire story behind the belief that New Hampshire is heading in the wrong direction, the general opinion is that housing availability and affordability is an issue.
Opinions are split on the best way to bring down housing costs, except in Southern New Hampshire where it’s more rural. There the opinion is more in favor of building housing to solve the crisis.
It doesn’t show as well graphically but there is overwhelming support for New Hampshire to allow accessory dwelling units (ADUs) to be permitted. This would allow people to turn their basements or attics into rentable space.
As always, we’re looking for 3-50 unit properties in Southern New Hampshire. If you know if anyone looking to sell, we’d love to talk to them.
Thanks for reading,
Steve Parry
Sparry@WhiteBarnRealEstate.com